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> www.pennyauction.com.my Serious Talk

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Xonius
post Jul 1 2009, 04:59 PM

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it looks like a scam or con but done in a creative way designed to lure greedy people who cant do simple math.

also the staff could easily place the last bid (or even rig the system) to ensure that they do not lose the item when they can't earn any profit.

it is however a very lucrative way to make money, lol.
vorchiel
post Jul 1 2009, 05:02 PM

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QUOTE(Xonius @ Jul 1 2009, 04:59 PM)
it looks like a scam or con but done in a creative way designed to lure greedy people who cant do simple math.

also the staff could easily place the last bid (or even rig the system) to ensure that they do not lose the item when they can't earn any profit.

it is however a very lucrative way to make money, lol.
*
lottery disguised as auction

can report or not
Panda
post Jul 1 2009, 05:07 PM

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QUOTE(Xonius @ Jul 1 2009, 04:59 PM)
it looks like a scam or con but done in a creative way designed to lure greedy people who cant do simple math.

also the staff could easily place the last bid (or even rig the system) to ensure that they do not lose the item when they can't earn any profit.

it is however a very lucrative way to make money, lol.
*
You wouldn't say that if you win the auction....


Xonius
post Jul 1 2009, 05:14 PM

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QUOTE(Panda @ Jul 1 2009, 05:07 PM)
You wouldn't say that if you win the auction....
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what? do you even understand how it works? NO. Try to visit that site and do some research first.

No business wants to lose money.

btw are you a staff there?
vorchiel
post Jul 1 2009, 05:16 PM

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staff/founder maybe

thats why can kaotim with vijay to get adspace. old member
Panda
post Jul 1 2009, 05:35 PM

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http://www.pennyauction.com.my/detailauction/210

Congratulations!!! Specialist has won the auction for HP Mini Laptop..


jackal1950
post Jul 1 2009, 05:40 PM

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he really waste a lot of bids for the item. i wonder they grant the item or not. wait until he reply here.
convivencia
post Jul 1 2009, 05:42 PM

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Can the mod merge thread http://forum.lowyat.net/topic/1075687 with thread http://forum.lowyat.net/topic/1077480 please?

Thank you !

This post has been edited by convivencia: Jul 1 2009, 05:44 PM
vorchiel
post Jul 1 2009, 05:44 PM

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QUOTE(jackal1950 @ Jul 1 2009, 05:40 PM)
he really waste a lot of bids for the item. i wonder they grant the item or not. wait until he reply here.
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» Click to show Spoiler - click again to hide... «


there is a winner in the other thread.

like i said, gambling disguised as auctions

This post has been edited by vorchiel: Jul 1 2009, 05:46 PM
Panda
post Jul 2 2009, 09:21 PM

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QUOTE(vorchiel @ Jul 1 2009, 05:44 PM)
» Click to show Spoiler - click again to hide... «


there is a winner in the other thread.

like i said, gambling disguised as auctions
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Why all ppl are saying Pennyauction is a scam?? I thought its an auction site just like Ebay or Lelong...

Ebay and Lelong are not scam? What about Lowyat garage sales? Don't forget a lot of ppl got cheated on garage sales too....


Cloudx
post Jul 2 2009, 09:38 PM

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QUOTE(Panda @ Jul 2 2009, 09:21 PM)
Why all ppl are saying Pennyauction is a scam?? I thought its an auction site just like Ebay or Lelong...

Ebay and Lelong are not scam? What about Lowyat garage sales? Don't forget a lot of ppl got cheated on garage sales too....
*
Haha if u do the math on the bidding price then u'll know how much they could profit from this.

Example... ipod touch for RM25.11 assume its RM0.01 increment and RM1.50 per bid that makes 2511 x 1.50 = 3766+ while the retail price for 1 ipod touch only 1k+... do ur math carefully and u'll know the hidden cost and why everyone complain its a scam...

Well for me i bid using my 5 free bids laugh.gif
vorchiel
post Jul 2 2009, 09:41 PM

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bidding on ebay is free

the commission that ebay gets is in fixed percentage, based on the closing price. if on ebay, if you dont win, then that's it. no hidden charges

penny auction is quite a clever idea i agree
getting interests on those advanced payments for credits
then 'funding' the prices of the prizes from the bidders, making profits along the way.

well, good luck to your auction site.
firedauz
post Jul 2 2009, 11:07 PM

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Soon, there will be hundreds of pennyauction copycat sites popping up laugh.gif

This post has been edited by firedauz: Jul 2 2009, 11:07 PM
Panda
post Jul 3 2009, 10:26 AM

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QUOTE(firedauz @ Jul 2 2009, 11:07 PM)
Soon, there will be hundreds of pennyauction copycat sites popping up laugh.gif
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You can open one too if you want to.... The Pennyauction script is available on the internet, just install it and done!!! rclxms.gif


jackal1950
post Jul 3 2009, 10:31 AM

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come come.. we can share capital and buy those products to be auction off...
xiong_21
post Jul 3 2009, 10:54 AM

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i just win the 25 free bids yesterday..and today will try bid to win an items..haha..

the profit they make really double up and maybe triple up, and i don't think this is a scam because it was provided by mobile88.com, example a LCD-TV selling at rm30.00 mean ,there are 3000 bids for the TV. the cheapest price for a bid is rm1.50 if you buy 300bids one time, then you do the math...

imagine everyone using the cheapest bid, 3000 x rm1.50 = rm4500.

and if 50% bidder using free bids, still = rm2250...



but actually i still think this is a win win situation if you succesfully bid the item...

if not, you are wasting alot of money just for the bids.


jackal1950
post Jul 3 2009, 11:50 AM

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QUOTE(xiong_21 @ Jul 3 2009, 10:54 AM)
i just win the 25 free bids yesterday..and today will try bid to win an items..haha..

the profit they make really double up and maybe triple up, and i don't think this is a scam because it was provided by mobile88.com, example a LCD-TV selling at rm30.00 mean ,there are 3000 bids for the TV. the cheapest price for a bid is rm1.50 if you buy 300bids one time, then you do the math...

imagine everyone using the cheapest bid, 3000 x rm1.50 = rm4500.

and if 50% bidder using free bids, still = rm2250...
but actually i still think this is a win win situation if you succesfully bid the item...

if not, you are wasting alot of money just for the bids.
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what i afraid is there are bots around which mark up the price until it reach a safe zone then let the lucky one win.
Panda
post Jul 3 2009, 05:10 PM

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http://www.pennyauction.com.my/detailauction/182

Someone won HP laptop mini with only RM1.33...

interesting... I thought you guys are saying PennyAuction uses bot to increase the price?


TSWaCKy-Angel
post Jul 3 2009, 05:33 PM

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QUOTE(Panda @ Jul 3 2009, 05:10 PM)
http://www.pennyauction.com.my/detailauction/182

Someone won HP laptop mini with only RM1.33...

interesting... I thought you guys are saying PennyAuction uses bot to increase the price?
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Then that guy must be one lucky s.o.b

I just tried to bid on 2 items and all got bid by other ppl when the timer nearly end.

So go figure out.
rook-ie
post Jul 3 2009, 05:36 PM

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look like hattrick game system lol

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